Wealth Management, Trust Administrator, New York

J.P.

Morgan Asset & Wealth Management, with client assets of $2.8 trillion, is a global leader in investment and wealth management.

Its clients include institutions, high-net-worth individuals and retail investors in every major market throughout the world.

The division offers investment management across all major asset classes including equities, fixed income, alternatives, multi-asset and money market funds.

For individual investors, the business also provides retirement products and services, brokerage and banking services including trusts and estates, loans, mortgages and deposits.

As a Trust Administrator within the Global Trusts & Estates Practice, you will play a crucial role in delivering our Trusts and Estates services.

You will work under the supervision of the Trust Officer in the administration of accounts, ensuring the proper set-up of account records, communicating with beneficiaries and co-trustees, and handling ongoing day to day administration of accounts.

You will also be responsible for risk management, client relationship management, and personal development and training.

This role provides an opportunity to develop your skills in the trust and estates industry, work with a diverse range of clients, and contribute to a team with a long history of excellence in serving as a corporate fiduciary for families.

Job Responsibilities:

Technical and Risk Management


* Work with the Account Opening Group to open trust accounts.

Interpret the governing instrument and applicable law to ensure the proper set-up of account records, including payments, fee schedules and tax records.

Communicate with beneficiaries and co-trustees to outline administrative procedures


* Respond to client issues, anticipate client needs, and prepare for and participate in client meetings with the Trust Officer


* Work with the Tax Officers and counsel on income, gift, estate, and generation skipping taxes for the trust/estate and its beneficiaries


* Respond to requests from beneficiaries for discretionary distributions.

Prepare memoranda supporting recommendation regarding how the Bank shall exercise discretionary powers it has as trustee.

Confer with co-trustee (if any) to obtain their approval.

Coordinate with Trust Officer on the communication of the decision to client and follow-up action on the request as necessary


* Handle ongoing day to day administration of account, and proactively manage account base in an effort to avoid and minimize service and operational issues.

Oversee the work performed by various operational groups.

Identify risk that might be incurred in connection with a trust, consistent with any applicable policies and procedures governing the risk in question.

Utilize risk management tools, such as the overdraft report, daily transaction report, Administrative Review, Holistic Review and the AAR Variance Report to ensure that all exceptions are properly addressed and kept to a minimum


* Communicate with In...